Nifty Analysis And Bank Nifty Analysis For 22ndSep2011

Indicator 
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Nifty Monthly  Oversold -Bearish (until 5350)
Nifty Weekly   Bullish
Nifty Daily    Bullish 


Trend Indicator
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Nifty Monthly Long above 5526(HEMA) and 5081(LEMA) (TREND UP ABOVE 5310)
Nifty Weekly  Long above 5166(HEMA) and 4951(LEMA) (TREND UP ABOVE 5080)
Nifty Daily   Long above 5126(HEMA) and 5045(LEMA) (TREND UP ABOVE 5094)
Nifty Hourly  Long above 5141(HEMA) and 5096(LEMA) (TREND UP ABOVE 5129)


JNSAR
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Nifty Weekly JNSAR 5081 -stay long
Nifty Daily  JNSAR 5033 -stay long
Nifty Hourly JNSAR 5127 -stay long


Nifty Havala Level
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4840 (August Closing)


Nifty Aggressive Trading
---------------------------------
Range 72  max 5061  min 5205
STOP LOSS 15 points only.


Support and Resistance
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4680-4784-4810-4865-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)


Open Interest 
-----------------------
Support    4900/5000
Resistance 5200/5300


Trade Conclusion
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Above 5075, maintain long position .........
Elliot Wave and Fibonacci Suggesting , we may travel to 5200/5350. (Valid above 5075)
Nifty may face  resistance at 5175-5210 /5325-5350


If Nifty closes above 5180 Buy 5300CE (Current Expiry)
Below 4910 /4890 => Extremely bearish 


Stop-loss is an essential risk control mechanism and it should always be there.
Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com